XRP Forms Higher Lows, Hints at Bullish Breakout
XRP showed strong technical resilience on July 27, posting a 1.3% gain over 24 hours and closing near $3.22 despite early-session volatility. The token rebounded from an intraday low of $3.16 and held support multiple times, forming a clear ascending channel pattern.
“XRP formed higher lows from $3.16 to $3.22, signaling bullish strength building below key resistance.”
The price action suggests growing bullish momentum, especially as volumes surged sharply during the afternoon session.
Heavy Trading Volume Signals Institutional Accumulation
XRP’s recovery was supported by a major spike in trading volume, with activity hitting 81.78M and 69.06M at 16:00 and 17:00, far exceeding the 24-hour average of 38.25M. This surge reflects strong institutional interest, especially in the final hour, where XRP jumped from $3.21 to $3.22 with heavy activity between $3.20 and $3.22.
“Volume spikes above 2M per minute confirmed high-conviction buying near resistance levels.”
Technical Analysis: Key Resistance at $3.23
XRP traded within a tight range of $3.15 to $3.23, with resistance clearly forming at $3.23. Analysts believe a clean break above this level, with follow-through buying, could open the path to test the $3.25–$3.30 zone in the short term.
The token’s ascending channel remains intact, supported by higher lows and elevated volumes—two strong indicators of accumulation and trend continuation.
What Traders Should Watch
As the market consolidates after ETF-related volatility, XRP is being closely monitored for a breakout confirmation. Key points to watch include:
- Can XRP sustain support above $3.20?
- Will volume remain elevated to push past $3.23?
- Are institutions continuing to accumulate during pullbacks?
XRP’s long-term narrative in cross-border payments and DeFi is driving consistent demand from strategic investors.
If current conditions hold, XRP could soon challenge its upper resistance and extend its bullish trend into the coming sessions.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.